Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 6,591 people, 2,655 houses or apartments, and a median cost of homes of $195,926, house prices in Buena Vista are solidly below the national average.
Single-family detached homes are the single most common housing type in Buena Vista, accounting for 88.07% of the city's housing units. Other types of housing that are prevalent in Buena Vista include large apartment complexes or high rise apartments ( 5.03%), mobile homes or trailers ( 4.22%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.36%).
The most prevalent building size and type in Buena Vista are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.88% owning and 47.12% renting.
There is a lot of housing in Buena Vista built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Buena Vista built between 1940-1969 ( 34.68%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.33%). There's also some housing in Buena Vista built before 1939 ( 9.35%).
Buena Vista's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Buena Vista during the period has been just 5.29%, which is lower than 70% of US communities.
Appreciation rates are so strong in Buena Vista that despite a nationwide downturn in the housing market, Buena Vista real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Buena Vista appreciation rates continue to be some of the highest in America, at 7.71%, which is higher than appreciation rates in 81.29% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Buena Vista. Buena Vista appreciation rates in the latest quarter were at 2.42%, which equates to an annual appreciation rate of 10.04%.
Importantly, this makes Buena Vista one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Virginia, our data show that Buena Vista's latest annual appreciation rate is higher than 60% of the other cities and towns in Virginia.
$195,926
for Virginia
for nation
2,655
$1,639 / per month